Correction: Corrects in first paragraph to remove reference to Jurassic World, which was produced by Universal Studios.

NEW YORK (TheStreet) -- With its stock up 29% this year, Disney (DIS - Get Report) has been by far the most buoyant component of the Dow Jones Industrial Average (DJI), which has declined 1% on the year. Disney, which has climbed 9.7% in three months, has been lifted by the blockbuster successes of movies like Marvel's superhero flick Avengers: Age of Ultron, Inside Out and Tomorrowland.

And if you're worried that the stock will run out of steam, look again. Disney, headquartered in Burbank, Calif., has a strong pipeline of movies heading into theaters in the months and quarters ahead -- not the least of which is Star Wars Episode VII -- The Force Awakens, due to premiere at the end of the year.

At 25 times earnings, this stock is not cheap, compared to the average P/E of 21 for the S&P 500 (SPX) index. But you would be hard-pressed to find a hotter company, one that is pushing all the right buttons at the right time, culminating in three-year stock gains of almost 140%.

So with the company due to report third-quarter earnings Tuesday before the opening bell, this is one stock that should be owned, not traded, given how well Disney has executed. This included profits that topped $2 billion in its fiscal second quarter, which beat the average analyst earnings-per-share estimate by 12%. Disney has beaten earnings in 10 straight quarters.

And the company's money-making capabilities explain why Disney -- despite its media company status -- doesn't trade on par with other giants in its sector like CBS (CBS - Get Report) (P/E of 10) and Twenty-First Century Fox (FOXA) (P/E of 7), which are slowing-growing enterprises.

By contrast, Disney management has figured out ways to grow the company with diversified assets like its theme parks and ESPN sports network. Until clear signs of slowing growth or operational misfires emerge, parting with a winner like Disney -- expensive or not -- would be a mistake. And Tuesday's results should affirm the underlying strength in this company.

For the quarter that ended in June, the average analyst earnings estimate calls for $1.42 a share on revenue of $13.23 billion, translating to increases of 11% and 6%, respectively. For the full year ending in September, earnings are projected to climb 17% to $5.06 a share, while revenue of $52.55 billion calls for a 8% climb.

All told, Disney, which has a consensus buy rating, looks well-positioned to grow revenue and profits from multiple streams in the quarters and years ahead.

This article is commentary by an independent contributor. At the time of publication, the author held no position in the stocks mentioned.

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